February 12, 2002 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

Prior editions available at http://bkinformation.com/bankruptcy_news.htm

         
Enron:

Vinson & Elkins Shoots Back
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Can You Guess Who Blames Vinson & Elkins for the Enron Mess?
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Enron Ex-Employee Groups Seek Voice in Bankruptcy Proceedings
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Role-Players Move Into the Spotlight of the Enron Drama
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No More Board Games
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LLPs Face Big Test in Enron Litigation
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Skilling's mom: He should have known of Enron woes
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Law firm's Enron work comes under scrutiny
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Milbank Touts Enron Role
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Two Enron executives will face more questions
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Former Enron chairman Lay finally appearing before Congress _ but he's not talking
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Enron Internal Document Indicates
Lay Had Role in Controversial Deals
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Transcript Contrasts CEO's Testimony
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Enron center stage in campaign finance debate
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Enron immunity seen unlikely
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Who's Drilling Enron on Capitol Hill?
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Trading came first for the energy group, and many believe its international strategy and traditional core business was undermined
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Corporate America Cautions on New Rules Post-Enron
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UBS Warburg Launches Trading Business
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Lessons from Enron's collapse: The way out in Dabhol
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Of former employer Enron, Cinergy CEO says, 'It was the hubris'
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Global Crossing Gets a Free Pass From Congress, Thanks to Enron
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Enron spoils Rubin's post-Treasury party
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Business Roundtable Statement on Corporate Governance Principles Criticizes Enron's 'Massive Breach of Trust'
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Crash shakes biggest Oregon utility
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Lay Prays
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''Contingent liabilities'' the buzzword after Enron
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Financial Troubles Reached Core Trading, Marketing Operations
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Enron Europe creditors braced to count the cost
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JP Morgan Chase Resigns As Trustee For Azurix Senior Notes
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Senator Slams SEC Chief on Enron; Lay Due Today
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Business Folly
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The 'inquisitors' who will frame Enron story Tone and import of Hill probe is the dictate of a powerful few congressmen
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Reformers Seize Enron Moment
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UBS to recapture just 20% of Enron volumes, analyst says

Enron bosses quit directorships
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Enron's Fall Spurs Call for Charges
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For me, Enron's failure is a personal matter
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Retailing:

Echoing sound of empty big boxes
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Senate Confirms Former Bankruptcy Judge For Circuit Court
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  Berlack, Israels & Liberman merges with Brown Rudnick Freed & Gesmer
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Advanced Aerodynamics buys Mooney Aircraft debt
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McDermott Gets Lifeline in Asbestos Verdict
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Law Firm Restructuring:

Beyond the Hourly Rate - General counsel get creative to ensure quality and beat the rise in billing rates
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Skadden Partner Planned to Leave, Now Stays Put
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Work Smarter In-House
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Law Firms That Won & Lost 2001's Biggest Verdicts
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Spared for Now - Companies are shedding white-collar workers by the thousands. But not their in-house counsel
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Downsizing During Tough Economic Times
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In-House Counsel: Life in the Corporate Wing
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AremisSoft may go bankrupt
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Bank stocks hit by bankruptcies
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Trustee Sets Bidding Procedures and Auction Date for Grand Eagle's Assets
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CEO Cleared in Rare Stock Drop Trial
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Assuming responsibility
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Roach & Carpenter, P.C. Attorney Elected as Fellow to the American College of Bankruptcy; First Woman Practicing Attorney in Massachusetts to Receive This Prestigious Honor
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Problems mount for Golden State physicians
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Dotcoms:

Fallen dot-com moguls find release in memoirs
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Q9 purchases Web hosting data centre: Acquisition another chapter in demise of Exodus Communications: 'Fire sale' price
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Airlines:

With Airlines in a Post-Sept. 11 Dive,
Secretive ILFC Plays a Crucial Role
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Some Analysts Say Government's Help Prevented Catastrophe for Airlines
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Is Global Crossing Double-Crossing Investors? Amid accusations of Enron-style bookkeeping, angry shareholders aim to stop the reorganization plan, which they say leaves them with nothing
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Kmart:

Kmart Seeks Emergency Court Order to Sell Booze
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Kmart's Debt to Sara Lee
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Kmart Bankruptcy Hits Insurers' Investment Portfolios
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Fitch Downgrades MLMI 1998-C1-CTL Due To Kmart Concentration
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Kmart Steps Up Its Political Gifts
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Power Utilities:

Calif. fights PG&E, moving $4B suit to fed. court
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S.F. Attorney Sues PG&E Corp.
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First Wave Marine Completes Financing, Officially Exits Bankruptcy
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WARN Act falls short as layoff alert
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Nortel Ousts CFO Hungle for Retirement-Plan Violation
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A bleak winter for Credit Suisse
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Bellevue's Webforia files for bankruptcy
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - Updated February 11, 2002
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Bankruptcy Court Web/Pacer Site Directory

Accounting:

Panel Plans to Introduce Legislation
Creating Accounting-Oversight Body
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SEC begins to pore over every annual report that it can: Tough job, with 300 reviewers watching 1,200 companies
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New Accounting Rules May Change Partnership Deals
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SEC widens accounting inquiry to include Qwest
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In Aftermath of Enron Scandal, Investors Skeptical about Financial Statements
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SEC's Accounting Cop Warns Firms:
Playing by Rules May Not Be Enough
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Andersen Quits Auditing Three Enron Affiliates
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Big Five Accounting Firms Earn Little Respect From Small Firms
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Accounting Games With No Rules
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Deloitte's fined for irregularities
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SEC probes deals by telecoms companies: Concern grows that carriers used sham trades to inflate revenues
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Stockwalk Group to file a pre-pack
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Kaiser Aluminum standing on edge of bankruptcy
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Fairness and equities
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Preferred Issues: Lost in the Shuffle: Big Venture Capital Losses
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Concerns Over the Use of SPEs by Financial Institutions

Orbimage Plans Bankruptcy, Eyes Recovery
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Telecoms:

US telecoms defy bankruptcy probe
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Carrier1 files for bankruptcy protection
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Carrier1 says expects to be liquidated
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Global Execs Recognize Workers' Loss
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Insiders Milked Global Crossing
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Founder of crashed Global Crossing cashed in pounds 500m shares
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KPNQwest says 15% of revenue came from swaps
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Isaac Pachulski Named To National Bankruptcy Conference

Frank's Nursery & Crafts Announces Filing of Plan of Reorganization and Disclosure Statement
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J. P. Morgan Seems to Feel the Ripples
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A Corporate Crisis Can Offer A Big Break for Bold Workers
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Bankrupt Huntco Gets Interim Court Approval For DIP Pact
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Russia:

Gazprom Files Lawsuit to Bankrupt Sibur
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Sibur faces bankruptcy
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_____________________

Japan:

Japan the Asian Argentina
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Sogo Denki Files for Bankruptcy Owing 30.6 Bln Yen
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_____________________

Thailand:

TPI plan in doubt after creditor's veto Asset sales already far behind schedule
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